Springboro Ohio 45066 Single Family Home Residential Market Report November 2013
There's snow on the ground! Did the Springboro Ohio real estate market get THE BIG CHILL with winter's approach, or is it still warm and toasty in Springboro real estate? Stay with us for the full report and our advice for potential Springboro home sellers and buyers. And if you want to search for Springboro homes for sale, we've got search for Springboro homes for sale links at the bottom of the report.
This report covers the Springboro Community School district single family homes (so portions of surrounding townships will be included e.g. Clearcreek & Turtlecreek). This report will only cover single family homes and not include condominium data. Data is derived from the Dayton MLS only, so homes sold without Dayton MLS entry will NOT be included in this review.
The Springboro area is popular, especially with residents seeking to commute into Dayton (easy access with I75 and SR741), and even works well for those not minding a bit longer commute south to the Cincinnati area. Springboro is a good choice for couples where one works in Dayton and the other in Cincinnati.
Springboro Community Schools are among the state's best public schools per the Ohio Department of Education ratings. Additionally Springboro was selected #42 in U.S. in 2011 by Money magazine for Best Small Cities To Live and probably would have made the 2013 list, but Money magazine changed the rules to only one town per county and Mason got the nod. Area residents have known for some time Springboro is a great place to live, so nice to see the same recognition nationally!
Keep in mind that some homes may only be listed in the Cincinnati MLS and will not be included in this report. We STRONGLY recommend any Springboro resident selling their home hire a REALTOR(R) with access to BOTH Cincinnati and Dayton MLS.
The Springboro area offers a full range of price points, and features an older historic area, developments of older homes, new subdivisions and rural options. There are also golf course communities, luxury home communities, patio home communities .... basically there's something for every home buyer's taste and budget.
Country Brook, A Clearcreek Township community with Springboro Schools
So, on to the data!
First up is the number of Springboro single family homes sold on a month by month basis for 2010, 2011, 2012 and 2013:
Next is the Springboro median price summary chart.
Springboro Single Family Home Summary:
Homes Sold: 40 (4 Bank/Government Owned, 2 Short Sale) UP 6
Average Price: $244,890 UP $5.5k
Median Price: $226,500 UP $29k
Days on Market Average: 115 DOWN 4
Homes Active 12/8/13: 198 DOWN 17
Homes Pending 12/8/13: 37 DOWN 15
Average Sales/List %: 96.7% UP .7%
Most Expensive Home Sold: $464,500
Least Expensive Home Sold: $57,250
So what does this all mean? The Springboro market rebounded in November. Overall, the stats indicate a VERY warm and toasty Springboro Ohio market for single family homes! Almost every stat went in a favorable direction with the exception of Pending Sales. So unless many homes sold in the first week of December, we can expect December's sales to drop. But again, a winter slowdown in more the norm for our local market. One other segment of special note is Springboro luxury homes, with a month of no sales above $500k. Now there is luxury home activity (drive through Country Brook and there's plenty happening there), it's just not translating into MLS recorded activity since most new construction sales are special order and not offered to the general public via MLS.
November sales volume brought back the trend of 2013 sales trumping same month comparisons to 2010/11/12, so you can see more evidence that the Springboro real estate market is strong.
Distressed properties (foreclosures and short sales) are a small section of the Springboro market, with only 6 of the 40 sales this month. However, with only 11 distressed properties part of the for sale section of the Springboro market, they don't account for much of the local market.
So what does this mean to you as a Springboro single family home owner? There's strength in numbers and the stats indicate good power for you as a Springboro home seller IF you price and market your home appropriately. Another plus for you is that inventory is dropping. Less than 200 homes not under contract for the entire school district means more leverage for you!
You live in one of the most financially stable areas in our market. Strong schools help cement the value of homes in Springboro. Those factors help create demand!
The one segment showing weakness is luxury home resales. Competing against custom home new construction in communities like Country Brook makes your sale more of a challenge than lower priced homes. We expect the luxury segment of the market to be slow for longer than the lower priced homes.
For an evaluation of your home's marketability, please contact us. And of course your personal circumstances will have impact of the right decision. We'll give you our best advice, whether to start now, or hold off until next year.
So what does this mean to you as a potential Springboro home buyer? Our advice from past months isn't going to change much. The stats indicate you shouldn't mess around if you're a Springboro home buyer! Springboro is not typically going to be the place to lowball offers and expect to get it accepted. With financial stability and high demand comes sales prices CLOSE to list price, not 10% off, but about 3-4%.
Like a Springboro home for sale? Don't delay if you REALLY want it. Lowballing and/or delaying making that offer may lead you to major disappointment. Be prepared to pay for the great condition homes in the best developments.
Springboro offers a lot of prime factors to make it home: great schools, great location, great community. There are quite a few newer homes for sale in communities such as Settlers Walk, and some older subdivisions provide the lower end of the shopping price point. New construction is also available in some communities. If you find a home you love, ACT immediately or some other buyer may take it first.
Want to search Springboro Homes For Sale? Use these Cincinnati MLS links for a partial snapshot. For a COMPLETE overview of both Cincinnati and Dayton MLS homes, contact us and we'll provide a full list for your convenience.
Search Springboro Ohio 45066 Homes For Sale Under $200,000
Search Springboro Ohio 45066 Homes For Sale $200,000 to $400,000
Search Springboro Ohio 45066 Homes For Sale $400,000 and Up
When you're interested in buying a Springboro home, please contact us with your needs and we'll help you find the right Springboro community for you! Why not take advantage of the extremely low interest rates and get your Springboro home before prices climb higher?
Serving Springboro's home buyers and sellers,
Liz and Bill aka BLiz
October 2013 Springboro Real Estate Market Report
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